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7 Vanessa contributed $20,000 of cash and land with a far market value of $100,000 and an adjusted bus of $40.000 to Cook Incorporated
7 Vanessa contributed $20,000 of cash and land with a far market value of $100,000 and an adjusted bus of $40.000 to Cook Incorporated in Scorporation when it was formed. The land was encumbered by a $30.000 mortgage executed two years before. What is Vanessa's tax bass in her Cook, incorporated stock after formation Multiple Choice O 120000 O O $30,000 R $60,000 $80,000 $120,000
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Managerial Accounting
Authors: Karen W. Braun, Wendy M. Tietz
4th edition
978-0133428469, 013342846X, 133428370, 978-0133428377
